ForexLive Americans Wrap: No Wind in the Retail Sales
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US Jan retail sales in line with expectations, +0.1%
BOE's King: Hopefully we have concluded question of FX rates for now
US Dec business inventories +0.1% vs +0.2% exp
Bullard says low inflation gives Fed room to act
Treasury's Lew says China currency still undervalued
Canada's fin min says G7 statement not meant to single out Japan
ECB`s Nowotny says doesn't see deflationary pressure due to higher euro
China/Russia working on $30B oil deal
Switzerland imposes higher capital for banks
S&P 500 flat at 1520
AUD leads, GBP lags
The euro was weak in US trading. Cascading stops from 1.3460 through the Asian low of 1.3438 were tripped in a quick move lower. The low on the day was 1.3426 but it recovered to 1.3460 in quiet afternoon trading and ends the day near 1.3445.
Low key trading in USD/JPY as well with the pair sticking near 93.50 after a spike to 93.80 early in Europe.
Cable tumbled after the BOE inflation report. A bounce to 1.5508 was snuffed out as Europe shut down and 1.5523 was the low.
The market was searching for a driving factor but retail sales were so close to expectations that they were a non-event. The market now looks to the BOJ for some volatility.